Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

Over 23,000 start-up employees have lost their jobs since 2020, according to staffing firm TeamLease. While coping with the emotional impact of a job loss isn’t easy, here are a few steps you can take to cushion the financial blow.

Monitor budget, curtail expenses
 

Begin by tracking your spending. This will help plug unnecessary leakages. Sanjeev Govila, a Securities and Exchange Board of India (Sebi)-registered investment advisor (RIA) and chief executive officer (CEO), Hum Fauji Initiatives, a financial planning firm, says, “Review your budget and cut it by at least 25 per cent.”

Even if you have some emergency funds,